Nigeria’s equities market began the new month on a bearish note, recording a ₦200 billion decline in market capitalisation at the close of trading. The All-Share Index fell by 0.22 percent to 143,210.33 points, pulling year-to-date returns down to 39.14 percent.

Investor sentiment was dampened by sell-offs in major stocks including International Breweries, which dropped by 10 percent; Dangote Sugar, which declined by 1.61 percent; and WAPCO, which fell 0.45 percent. Gains in UBA, Champion Breweries, and AIICO Insurance were not enough to lift the market into positive territory.

Trading activity slowed considerably. Transaction volume dropped by almost 20 percent, while the value of trades slipped by 6.62 percent. Cornerstone Insurance, despite being one of the day’s biggest losers, accounted for the highest volume with over 908 million units traded.

The session closed with more laggards than gainers—26 stocks declined, while 19 appreciated. The consumer goods and insurance counters were the most affected as profit-taking and risk aversion dominated investor sentiment.

This downturn mirrors the broader cautious mood that has persisted in recent weeks. Although the market posted a ₦180 billion gain on November 28, helped by modest advances in consumer goods, banking, and industrial stocks, the negative trend re-emerged at the start of December.

Block purchases in selected financial stocks—including Wema Bank, AccessCorp, Fidelity Bank, and Zenith Bank—suggest continued interest from institutional investors, even as broader market sentiment remains fragile.